Starting and growing a recurring donor program
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The document provides guidance on starting and growing a recurring donor program, emphasizing the importance of committed, automatic contributions that support organizational missions. Key strategies include establishing a dedicated program manager, optimizing online donation forms, and maintaining ongoing communication with donors to prevent lapses. It also offers practical examples and resources for implementing effective monthly giving practices.
Starting and growing a recurring donor program
- 1. Starting and Growing a Recurring Donor Program Presented By: Erica Waasdorp
- 2. GoToWebinar Housekeeping Open and hide your control panel Join audio: • Choose “Mic & Speakers” to use VoIP • Choose “Telephone” and dial using the information provided Submit questions and comments via the Questions panel Your Participation
- 3. About Erica Waasdorp •President of A Direct Solution •Philanthropoholic •Reader’s Digest ‘graduate’ •30 + years Direct Response experience •20+ years of Monthly Giving experience •Raised millions of dollars for clients •Author of Monthly Giving. The Sleeping Giant, paperback and e-book •Speaker, teacher and blogger February 18, 2015
- 4. Poll Do you have a monthly giving program? February 18, 2015
- 5. Do your Research Join Other Monthly Giving Programs Best practice February 18, 2015
- 6. What are recurring donors? • Small • Committed • Automatic • Provide regular income • Support your mission February 18, 2015
- 7. 21% of Baby Boomers (age 49 – 67 years old) gives Monthly! monthly donors Source: Blackbaud Generational Giving Study February 18, 2015
- 9. Source: Bloomerang, 2014 AFP Fundraising Effectiveness Study Why? February 18, 2015
- 10. Source: Infographic: Bloomerang, AFP Fundraising Effectiveness Project Quote: Adrian Sargeant February 18, 2015 Why…
- 11. Retention Rates Rock!! Median Retention Rates in 2012 by Gift Type and Loyalty Donors Giving Only Single Gifts Donors Giving Both Single and Recurring Gifts 2 Years Consecutive 51% 86% 3 & 4 Years Consecutive 65% 90% 5+ Years Consecutive 79% 95% Source: donorCentrics™ Collaborative Benchmarking US Recurring (Sustainer) Giving February 18, 2015
- 12. Your donors will give more… Current Gifts Monthly Gifts (annual) First year Cume 100 $35 $0 $3,500 100 $35 $120 $15,500 February 18, 2015
- 13. How they give • Electronic Funds Transfer (EFT / ACH) • Credit card/debit card • Offer both!
- 14. Ask and you’ll receive All typical fundraising rules apply! Best practice February 18, 2015
- 15. One person must own the program YOU Web site Donors Donor base Donor services FundraisingAccounting Programs Marketing Online February 18, 2015
- 16. Question What’s the name for your monthly donor program? February 18, 2015
- 17. Have a Name Organize Recognition Develop your ‘Promises’ Get organized February 18, 2015
- 18. Make your own email thank you! February 18, 2015
- 19. Thank you Gift impact Thank you! February 18, 2015
- 20. Certificate Thank you for joining Send with personal letter via snail mail February 18, 2015
- 21. Poll Should you send monthly donors a monthly thank you letter? February 18, 2015
- 23. Tax info by email and hard copy Total amount for the year February 18, 2015
- 24. Start with your Recurring Donation and Landing Page Organize online February 18, 2015
- 25. Poll Who is handling your online donations? February 18, 2015
- 26. Monthly Before One time donation Pay Pal example February 18, 2015
- 27. Easy, minimum amount Network for Good February 18, 2015
- 28. Greater Giving No minimum Simple ask to recur February 18, 2015
- 29. NetCommunity Spark February 18, 2015
- 30. Poll Which donor base system are you using? February 18, 2015
- 31. Absolutely NO end date EVER! February 18, 2015
- 32. Promises What donors can expect February 18, 2015
- 33. Add form online add mail in form February 18, 2015
- 35. Automatic Check Option Donor must fill out form and send in, Signature required for EFT February 18, 2015
- 36. Put Monthly Giving Front and Center Set up your form and information on the web February 18, 2015
- 37. Make it easy to find… February 18, 2015
- 39. Make it easy to find… February 18, 2015
- 40. Add to donation page Specific amounts Dare to put front and center February 18, 2015
- 41. Put it on home page February 18, 2015
- 42. Info and payment are one
- 43. Ask Low Get High Response Upgrade later Best practice February 18, 2015
- 44. Calculate Monthly Ask Amount February 18, 2015 Take average gift Use 1/3
- 45. Ask low, get high response! February 18, 2015
- 46. Source: 2014 M+R Strategic Benchmarks Don’t worry… February 18, 2015
- 47. Drive to web Best practice February 18, 2015
- 48. As soon as they become a donor! As often as you’d like Any time of the year When can you ask? February 18, 2015
- 49. Impact of gift Monthly front and center Ask for preferences Welcome email February 18, 2015
- 50. Online Monthly Growing… Source: 2014 M+R Benchmarks (2013 data) February 18, 2015
- 51. Use email Use challenge and deadline Promoting your program February 18, 2015
- 52. Poll How many email names do you have? February 18, 2015
- 54. Clear goal of 600 Deadline # left to generate Specific amounts February 18, 2015
- 55. Ask in email newsletter Include in email newsletter February 18, 2015
- 56. Your program is growing!! February 18, 2015
- 58. Poll How many times do you ask your donors for money? February 18, 2015
- 59. Target Small donors Multiple Donors 0-12 Mo. 1000.00+ 552 500.00-999.99 308 250.00-499.99 339 100.00-249.99 1,315 50.00-99.99 786 25.00-49.99 850 20.00-24.99 629 15.00-19.99 270 10.00-14.99 664 5.00-9.99 249 .01-4.99 92 your future monthly donors
- 60. February 18, 2015 Use Donor testimonials “I am a widow on a fixed income but being a monthly sponsor helps people that have less. You do good work for the less fortunate”. – Jean, NJ
- 62. Letter in thank you Strong teaser Back-end premium works with mission Clear examples of how gift helps Offer EFT and CC options February 18, 2015
- 64. Both options Front of Reply Back of reply February 18, 2015
- 65. Back Office Crucial February 18, 2015
- 66. Prevent lapsers • Before card expires • Email • Letter • Telephone • Survey Prevent lapsers
- 67. Email example
- 68. Poll Should you stop appealing to monthly donors? February 18, 2015
- 71. Plan for Success! February 18, 2015
- 72. Annualize Results Monthly Donors Source # of monthly donors acquired Average gift Average Yearly Gift First year Cume Totals 170 $10 $120 $20,400
- 74. “The beginning is perhaps more difficult than anything else, but keep heart, it will turn out all right.” –Vincent van Gogh February 18, 2015
- 76. Download templates • Tax letter template • Email example template http://bit.ly/1zjgouF
- 77. Resources • Erica Waasdorp, Monthly Giving. The Sleeping Giant. amzn.to/1jFMRmU www.adirectsolution.com Templates, Blogs on monthly giving • Network for Good Guide on Recurring Giving bit.ly/1prks8d • Donate Now http://www1.networkforgood.org/for-nonprofits • PayPal for nonprofits http://bit.ly/1ns4uIc February 18, 2015
- 79. Erica Waasdorp A Direct Solution PO Box 757 Marstons Mills, MA 02648 USA Tel: 508-776-1224 Fax: 270-633-1744 www.adirectsolution.com erica@adirectsolution.com @ericawaasdorp Monthly Donor Calculator bit.ly/T1dSdr February 18, 2015